Technical analysis

FTSE 100 Wave Analysis – 13 July 2023

– FTSE100 reversed from key support level 7300.00

– Likely to rise to resistance level 7550.00

FTSE100 index recently reversed up sharply after the index failed to break below the key support level 7300.00, which has been reversing the price from last November.

The upward reversal from the support level 7300.00 stopped the intermediate downward impulse (C)-wave from June.

FTSE100 index can be expected to rise further toward the next resistance level 7550.00 (previous minor reversal high from the end of last month).

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